Most Expensive Homes in Australia 2024
Written by: Neelam Shahzadi
Reviewed by: Majid Hussain
For those who draw inspiration from luxury real estate or are simply intrigued by how the most expensive homes in Australia stack up against their global counterparts. It’s worth noting that some estates might be absent from this enumeration due to undisclosed current valuations or because they haven’t been traded or transferred in recent times.
To get to know about the most expensive properties in Australia 2024, continue reading this article.
Top10 Most Expensive Homes in Australia
Australia’s real estate landscape is dotted with some of the world’s most breathtaking and luxurious homes. These ten most expensive homes in Australia are not just residences but crowning jewels of architectural grandeur and opulent design, commanding staggering prices and exclusive addresses.
The most expensive properties in Australia are listed below:
Fairwater
The Fairwater estate, previously part of the Fairfax family’s holdings, achieved a record-breaking sale price of $100 million in 2018. Acquired by Mike Cannon-Brookes, a prominent figure in the tech industry and co-founder of Atlassian, this expansive 1.12-hectare property boasts a heritage listing. Remarkably, it was only available for a brief two-week period before it claimed the title of Australia’s most expensive residential property transaction.
See also: Best Places to Invest in Australia
Edgewater
Edgewater, nestled in the upscale neighbourhood of Point Piper, Sydney, is reputed to be Australia’s second priciest residence, valued at $95 million. This prestigious property changed hands in 2020 for the same amount, with Chinese gold mining tycoon John Li as the new owner.
Elaine
Elaine, a distinguished property previously owned by the Fairfax family, mirrors the Fairwater estate in its prestigious lineage. In 2017, Scott Farquhar, an Atlassian co-founder and close associate of Mike Cannon-Brookes, acquired it for $71 million. At its sale, Elaine was cited as the third most expensive residential sale globally.
La Mer
La Mer, a grand estate in Vaucluse, was acquired for a sum of $70 million back in 2015 by James and Erica Parker. The Parkers expanded their domain by purchasing the main residence and two adjacent properties, which they subsequently demolished to make way for an extension of the original home. A significant portion of La Mer’s structure is ingeniously designed below ground level, boasting an impressive six stories. This architectural marvel stands out as the first on the list to diverge from the Point Piper cluster.
Phoenix Acres
Phoenix Acres, with its commanding presence in Vaucluse, was secured for $65.25 million, which, while impressive, fell short of its initial jaw-dropping $80 million listing price. This significant real estate transaction took place in 2017, and had the estate sold at its original list price, it would have set a record as Australia’s most expensive property then.
Altona
The historic Altona estate, crafted in 1904 by the esteemed Supreme Court Judge Augustus James as a gesture of devotion to his wife, for whom it is named, has witnessed a succession of proprietors over the years. Its latest transition in ownership, for $62 million, has solidified its status among the nation’s most lavish and costly homes.
Ganeden
Ganeden, a palatial residence in Vaucluse, initially entered the market in 2019. However, it wasn’t until three years later that a buyer with the means to afford this opulent property was found. The Landerer family parted with this seven-bedroom, 13-bathroom estate, which also features three kitchens, two elevators, and an array of sumptuous amenities such as a home cinema and spa. Additionally, it boasts a garage that can accommodate up to 20 vehicles.
Portofino
Portofino, a gem in the Point Piper area, was acquired by an art enthusiast from Shanghai for a notable $60.66 million in 2016. This property is famed for its stunning vistas of Sydney Harbour and exquisite Tuscan architectural design, setting it amidst some of the most sought-after real estate in the region.
Shein Family Home
In the scenic locale of Vaucluse, a pair of waterfront estates were recently consolidated through a $60 million purchase by Leon Kamenev, co-founder of Menulog. The vision for these properties is to unite them into one expansive compound. This acquisition places Kamenev among an elite enclave known for its prestigious residences and striking Tuscan-inspired designs.
Mosman Park Mansion
The Mosman Park Mansion, standing out as the sole top-ten contender outside the Vaucluse or Point Piper precincts, was traded in 2009 for $57.5 million. Owned by mining heiress Angela Bennett, this Perth property’s worth is likely even greater in the current market.
Frequently Asked Questions
A trophy home in Australia is typically a residential property sold for $40 million or more. These properties are often notable for their luxurious features, prestigious locations, and the significant attention they attract upon sale.
New South Wales, particularly the suburbs of Point Piper and Vaucluse in Sydney, holds most of Australia’s trophy homes. Nine of the ten most expensive homes listed are in this region.
Not necessarily. Some of the most valuable properties may not be included in the list due to undisclosed valuations or because they haven’t been on the market in recent years. The list reflects known transactions and current valuations where available.
Conclusion
In short, the most expensive homes in Australia are a spectacle of opulence and exclusivity, with trophy homes that are architectural marvels and symbols of prestige. These properties, predominantly located in New South Wales, represent the pinnacle of high-end living.
For those inspired to explore such grandeur, or to find their slice of paradise, Legend Properties offers an exquisite collection of Australia’s finest homes. Contact us and discover your dream property of luxury meeting legacy.
Reviewed by:
Experience hones, but constantly embracing learning and versatility is what brings you to the top. I have had several years of experience behind me regarding sales and team management in a handful of prestigious companies in the country, and even so, I yearn for further professional and personal growth; hence, the various trainings and courses I attended. Read More